Lambert Smith Hampton (LSH), acting on behalf of its client the BBC, has sold its offices at 11-13 Tyndalls Park Road to Bristol University.
11-13 Tyndalls Park Road comprises two semi-detached grade II listed period buildings spanning 10,376 sq ft and becomes home to Bristol University’s expanding campus. The University intends to take up its new residence shortly, and is expected to retain the property for office use. The accommodation covers four floors, of which one is a basement, and a courtyard.
The BBC disposed of this office stock, as part of its ongoing strategy to rationalise properties it is not fully occupying.
Alder King advised Bristol University on the acquisition.
Roxine Foster, Associate Director – Office Advisory, at LSH, commented:
“Considering current market uncertainty, the interest in this office stock was exceptional. Offers came from a variety of bidders with Bristol University, who occupy a number of neighbouring buildings, sealing the deal. The BBC decided to part ways with this office due to under-utilisation. Instead, the offices which are located in a prime location in the heart of Bristol will go to a great new home.
“This deal demonstrates that quality stock, in prime locations, continues to be in demand despite the wider macro-economic conditions.”